He said that Indian packaging equipment and material manufacturers are getting sophisticated and as they gradually reach a desired level of maturity, they could find the US market to be a huge area of opportunity. The Pack Expo International will see strong representation from food, beverage and personal care segments, he said. The show will be co-located with Pharma Expo.
Although the packaging market in US is dominated to a large extent by rigid packaging, according to Izquierdo, there is a clear trend that flexible packaging is starting to acquire greater share. The shift is underway mainly because consumers are now looking for convenience and added value. “Since there are some really good Indian companies offering flexible packaging solutions, this trend could provide them with new business opportunities.”
Izquierdo stated that PMMI has started to move some processing equipment manufacturers from Pack Expo to ProFood Tech. The ProFood Tech, powered by Pack Expo, Anuga and the International Dairy Foods Association (IDFA), brings together the biggest names in processing industry.
“As processing equipment manufacturers shift to ProFood Tech, we will look to rope in more entities from packaging technologies space as well as flexible packaging, track and trace, and digital printing,” he said.
Finally, expressing his view about the India packaging industry, Izquierdo said that India has the right kind of ingredients needed for growth in packaging consumptions. “Favorable demographics, rising income and developed distribution network are three main factors that drive growth in packaging consumption. The first two factors are very much present in India. I believe distribution network too will gradually improve. Once that happens you will see an explosive growth in per capita packaging consumption in the country.”
Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive
The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.
As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.
The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are grown similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.
For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.
We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.
The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans and to inspire and mobilize our editorial and advertising teams!
